VANCOUVER, Feb. 20, 2018 /CNW/ - MYM Nutraceuticals Inc., (CSE: MYM.CN) (MYM.CN) (OTCBB: MYMMF) ("MYM") is pleased to announce a joint venture agreement between Southern Cross University and Solaris Nutraceuticals to commit to the development of hemp and medicinal cannabis products in the NSW Northern Rivers region that will enhance animal and human health. The agreement will pave the way for a flourishing industry built on the medicinal value of cannabis.
Vice-Chancellor Professor Adam Shoemaker said the agreement was a great step forward not just for the region, but also for consumers.
"Universities have a vital role to play as catalysts for diversification and development - creating new opportunities through 21st century industries," said Professor Shoemaker. "Legalized cannabis products are already playing a critically important role in delivering medicines, and through innovation, have the potential to improve the lives of millions more through new medical applications and nutrition. This agreement is a great example of Southern Cross University's commitment to engaging with industry and the community, so that we can create an environment for discovery and commercial development, driving changes in our back yard that can translate into benefits around the world."
Professor Shoemaker signed the agreement with Mr. Michael Horsfall, CEO of Solaris Nutraceuticals, committing to a new approach that brings together the University's internationally-recognized expertise in medicinal cannabis research with the corporate capabilities of Solaris Nutraceuticals.
The University's Lismore campus is equipped with high-security research laboratories where researchers work with the world's most diverse collection of cannabis seed and has already established an international reputation for botanical research. The decision of Solaris to establish a new medicinal cannabis plant in Casino, just a half hour drive from Lismore, has underscored the potential of this collaboration to yield substantial outcomes.
"This is an exciting opportunity not just for Solaris Nutraceuticals, but also for the Northern Rivers region," said Mr. Horsfall. "The project will deliver around 300 direct jobs and make a significant impact to the local economy and raise the socio-economic profile of the Northern Rivers region. On Friday, February 2, 2018, this project received grant funding of $2.5 million from the Australian Government as part of the Regional Jobs Investment Packages program (RJIP), a grant initiative that was made available by the Department of Industry, Innovation and Science. This is a significant step forward for our project and we are very appreciative of the support we have received from federal, state and local governments. Solaris Nutraceuticals will work with the University to identify opportunities to improve the properties and quality of medicines that can be derived from cannabis. These new collaborations hold tremendous potential and we are excited to be working towards a strong future together with Southern Cross."
About Southern Cross University
Australia's engaged university, Southern Cross, has maximized its impact by forging close partnerships with industry, communities and research partners around the world. With campuses in Lismore, Coffs Harbour and the Gold Coast, Southern Cross was founded in 1994 and is already ranked by Times Higher Education (THE) in the top 500 universities in the world, including ranking in the top 300 for life sciences.
About Solaris Nutraceuticals Inc. (MYM Owns 35%)
Solaris Nutraceuticals is an innovative medical technology company headquartered in Sydney, Australia. The Company is owned by PUF Ventures Inc. (CSE: PUF), MYM Nutraceuticals Inc. (CSE: MYM), Chrome Holdings of Australia and private investors. It has submitted applications and plans with Australia's Office of Drug Control to build a 1.2 million square-foot greenhouse facility with cannabis production space and a medical research center in the Northern Rivers Region of New South Wales, Australia. Solaris' corporate mission is to deliver environmentally friendly, sun grown medicinal grade cannabis and to develop medicines and treatments for pain management and other medical conditions. The company's focus is on innovations that promote, support and deliver improvements in the quality, consistency and cost of medicines to our clients. For more information, visit http://www.solarisnutraceuticals.com.
About PUF Ventures Inc.
PUF Ventures Inc. is a growth oriented and diversified company focused on the international cannabis industry. It has ownership in several cannabis companies: AAA Heidelberg, Solaris Nutraceuticals Pty Ltd., and Natures Hemp Corp., and is actively pursuing other opportunities within the industry. PUF has an option to purchase 100% of AAA Heidelberg Inc., a private Ontario company and advanced applicant for an ACMPR license. Solaris Nutraceuticals is building the largest medical cannabis greenhouse in the Southern Hemisphere. For more information please visit: http://www.puf.ca.
About MYM Nutraceuticals Inc.
MYM Nutraceuticals Inc. is an innovative company focused on acquiring Health Canada licenses to produce and sell high-end organic medicinal cannabis supplements and topical products. MYM has two production projects in Quebec that when completed will have over 1.5 million sf of production space. MYM is also a partner in a 1.2 million sf production project (Northern Rivers Project) in New South Wales, Australia. Australia is an exciting new market that has recently legalized medicinal cannabis. To ensure a strong presence and growth potential within the industry, MYM is actively looking to acquire complementary businesses and assets in the technology, nutraceuticals and CBD sectors. MYM shares trade in Canada, Germany and the USA under the following symbols: (CSE: MYM) (OTC:MYMMF) (FRA:0MY) (DEU:0MY) (MUN:0MY) (STU:0MY).
ON BEHALF OF THE BOARD
Rob Gietl, CEO
MYM Nutraceuticals Inc.
Keep up to date with MYM on our social media channels:
This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The company disclaims any intention or obligation to revise or update such statements. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on http://www.sedar.com .
This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither the Canadian Securities Exchange (CSE or CNSX Markets), nor its Regulation Services Provider (as that term is defined in policies of the CSE), accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities law and may not be offered or sold in the "United States", as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available.
SOURCE MYM Nutraceuticals Inc.
For further information: Investor Relations, Terry Brown, +1-855-696-2261, [email protected]